The global cryostat market is witnessing growth and projected to reach USD 3,047.8 million by 2030. This development of the industry can be credited to the improvements in several medicinal fields, like tissue sampling and MRI. The need for cryostats is increasing because of the low temps they create, quicker turnaround for sample freezing, and better protection of protein antigenicity.
Cryostats do facilitate applications in medical including the usage in MRI apparatus and for preserving tissue samples. In MRI devices, they are used to maintain a cryogen, especially helium, in a liquid state with little evaporation loss. In the realm of progress in the technologies in the space of healthcare, modern MRI cryostats use a mechanical refrigerator for sending the helium gas to the bath to re-condense it and return it for maintenance of the cryogenic condition and saving the gas.
The adoption of cryostats is expanding in the aerospace industry with a race among the major developed countries to expand their national space vehicle fleets. These refrigerators will be making use of such machines in the adiabatic demagnetization and other important parts that are related to cooling the communication devices, satellite bodies, and X-ray spectrometers.
Key Insights
- In 2023, the dewars category generated the largest revenue share at 25% and is projected to uphold dominance in the projection period.
- Dewars are vital components of cryostats utilized for storing liquid and solid cryogens.
- They are made of glass, stainless steel, or aluminum and adhere to safety standards.
- Microtome blades are forecasted to have the fastest growth due to their excellent performance in pathological and laboratory tests.
- These knives facilitate the requirements of sectioning the tissues into slices of equal thickness and sizes, which are then applied in histology, microscopy, and spectroscopy.
- In 2023, the continuous-flow category generated the largest revenue share of more than 40% and is projected to dominate in the future as well.
- They are estimated to stay leading the industry over the projection period.
- These cryostats are favored in comparison to mechanical cryocoolers because of their lack of vibrations and utilization of liquid nitrogen gas.
- They are not affected by power failures as they demand continuously circulating liquid nitrogen from an external tank.
- Acceptance of continuous-flow cryostats is quickly growing across numerous applications.
- In 2023, helium had a substantial revenue share of 70% and the category is also projected to continue leading the market.
- Its supremacy is credited to characteristics such as superfluidity and a low boiling point.
- The growing need for helium in its liquid form for cryostats is because of its capability to ionize and work at low temps and pressures.
- Helium is favored as a cryogen for procedures depending on superior semiconductors like magnetic resonance imaging because of its high thermal conductivity and specific heat.
- In 2023, the North American region had the largest revenue share of approximately 55%, propelled by development in the healthcare sector and improvements in diagnostic technologies.
- The region's industry is set to enlarge further because of augmented natural gas imports and the need for cryostats.
SOURCE: P&S Intelligence